Recent content by PhrugalPhan

Maybe I'm not understanding this. 5% of $1.33 trillion is $66.5 billion. 5% of that in earnings would be $3.325 billion. And a 20% tax on that is $665 million (not $13.3 billion). Am I missing something in the calculations?

Of my investments, 41% are in individual stocks and ETFs. Last check my total was around 1.6Mil, and here is the top ten. Definitely top heavy, but I do feel confident in it. TSLA38.8% IHI5.1% AMT4.2% JNJ3.9% TGT3.9% NEE3.7% WTRG3.6% KO2.6% UNH2.4% AMP2.0%

TSLA is my "Go Big" stock in my Roth IRA (50%) and overall investments (15%). I was curious about your logic and figured I should check it out. Since last quarter TSLA produced 200,000 cars I figure if I multiply by 100 to get 20M units sold, I can do the same to their financials from the last...

Rolled in $10k from a rollover IRA. In 2010 (I believe) you were allowed to pay the tax hit on rollovers over two years instead of one, so I took advantage of that to get rid of the IRA and move the money into my Roth.

Going back to the original poster, I too started my Roth IRA in 2007. However I consistently put in the yearly limits, plus rolled in an extra $10k in 2010. I am showing $106k of contributions over those 15 years. Twice what the OP put in, though he was heavier in the early years, and I...

Sounds like my pension plan. The powers that be keep saying its to your benefit to build up that sick time for retirement. I will tell anyone that asks to burn it instead, its more valuable that way. Not sure anyone has realized I am not kidding.

As someone retiring in 2023, why that year? Why not 2022 or 2024? I guess I am not worried about it, but then again I have a solid pension awaiting me in 2023 so I feel fairly solid no matter what happens.

I just did a more thorough analysis this past month and realized that contributing 100% to Roth in my retirement account (as I have for 3 years already) and then doing conversions to the top of the same tax bracket in retirement will still not be enough to avoid hitting a higher bracket and...

Wednesday I passed the point where I can get a reduced pension if I leave my employer now (60% of the pension benefit I have earned to this point). Another 2.5 years to get the unreduced pension. Nice to know from here on out I will have money coming in no matter what happens.

I always did paper filing, but my GF started working at HR Block and insisted I file through her for free. That worked perfectly. I got my refund in a few weeks. And even better, I filed late enough that the stimulus check calculation used my 2018 tax return which doubled my stimulus amount...

As a participant in a 457 plan, here is my take on this. The advantages to doing Roth in your 457 is: 1) There is no $7000 contribution limit like with a Roth (or traditional) IRA 2) If you think you will have plenty of low tax space to convert when you retire, then doing Roth now isn't a...

Reminds me of when we flew international on TWA after the '86 bombings. Lots of room to stretch out & enjoy the flight.

49% Tax Deferred (457) 34% Roth IRA / 457-Roth / HSA 17% Taxable Brokerage However I also have a pension with a COLA I can get in 3 years (at 60 y.o.) that if I value it at 20 times annual payout and add that value to my tax deferred amount, I come up with: 70% Tax Deferred (4/7 pension, 3/7...

Your situation sounds identical to mine. This week I estimated my future RMD of pre-tax funds from my 457 plan as well as what I expect from SSI & pension and found I am already at the point it will push me to a higher tax bracket than today. However if I do 100% Roth for 457 contributions I...

A not so old 56 here. Been using ellipticals at work gym for 15 years now. Obviously love them. I find like others you need something to distract yourself. I read my kindle while I'm on them. I only do 15 minutes since I am weightlifting the remaining time of my lunch hour. For last 5 years I...